“Money sent by migrant workers to their families has mainly been spent on daily products and their financial survival. They have been spent on their essential needs such as food, clothing, healthcare, education for the children or construction and home furniture. But, these funds have not had an impact on the economic development of the country and the opening of new jobs”, the document states, adding that this is why the formalization of the ways these funds are wired is very important. “Wiring remittances through formal routes increases transparency and promotes the country’s banking system, thus strengthening the market of remittances”, experts say. They say that low cost transfers through formal channels will be promoted and these channels include banks and the post office. “The National Strategy of the Diaspora foresees an action plan, which will expand banking services for remittances in Albania. Meanwhile, it will also boost the capacities of other financial institutions and the Albanian Post Office to improve the service for the transfer of remittances”, the document in question further argues.